Osborne open to conditional compromise on cuts with Davey

It has emerged that UK Chancellor of the Exchequer, George Osborne, is prepared to drop his requests for deeper cuts to renewable energy subsidies, on condition that his coalition partners shelve numerous green policy objectives.

Osborne, according to the FT, is insisting that the Liberal Democrats end decarbonisation targets, despite recommendations from the independent committee on climate change and the energy and climate change committee of MPs that the government should aim to fully decarbonise the electricity sector by 2030.

Ed Davey

The chancellor also wants Energy Secretary, Ed Davey to strongly signal support for gas power stations without carbon capture and storage beyond 2030, in exchange for acceptance of the original 10 per cent subsidy cut.

Osborne also wants the Energy Bill to enable the Secretary of State to axe the popular "feed-in tariff" incentive scheme if the government feels it necessary, and submit to using "renewables trading" with other countries to meet EU renewable energy targets for 2020.

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